About 28 percent of the complaints reported by the consumers to the Reserve Bank of India (RBI) are about digital transactions and card payments, as per the data released by the central bank.
According to RBI’s annual report on the Banking Ombudsman Scheme for 2017-18, out of all the complaints 22 percent pertained to banks for not adhering to the ‘fair practice code’, while ATM and debit card-related problems accounted for the second largest category at more than 15 percent.
Consolidated data of the complaints reported in credit card-related category, online banking issues, and the total share of complaints on digital channels almost touched 30 percent of the total complaints filed.
Almost 8,500 complaints received by RBI were filed on problems pertaining to internet and mobile banking. The number reported was over 24,000 for issues around debit cards and ATMs and 12,000 were regarding credit cards.
In comparison to 2017-18, problems concerning ATM and debit cards were less during 2016-17 at about 12 percent, while problems pertaining to credit cards were at 6.4 percent. A comparative analysis for internet and mobile banking-related complaints is not available for 2016-17 as the category was added during last fiscal only.
As revealed by the RBI, more than 60 percent of the issues regarding cash dispensing machines were reported around non-dispensation of cash and the account being debited.
In terms of credit cards, the bulk of the complaints were received from wrong billing category and the rest came from delayed reporting and other issues.